3dwin Neutral Newbie June 8, 2011 Share June 8, 2011 http://motoring.asiaone.com/Motoring/Owner...608-283038.html after Sunday flood, looks like the motor insurance is going to increase again!!! ↡ Advertisement Link to post Share on other sites More sharing options...
Yewheng Twincharged June 8, 2011 Share June 8, 2011 (edited) http://motoring.asiaone.com/Motoring/Owner...608-283038.html after Sunday flood, looks like the motor insurance is going to increase again!!! Depends on insurance company will honor act of god not? If got clause that will honor act of god than good news for them but bad news for people who pay for premium. Well.. give and take lor.. maybe next time when just so sway happen to you than you will be glad that insurance got cover act of god. [rolleyes] Edited June 8, 2011 by Yewheng Link to post Share on other sites More sharing options...
Maxus-MIFA9 Supersonic February 10, 2016 Share February 10, 2016 Motor Insurance going to increase in 2016 ............ Yahoo : Chart of the Day: Car insurance premiums set to jump in 2016 Insurers have great pricing power. The low car ownership rate in Singapore will not deter motor vehicle insurers from hiking premiums this year, according to a report by BMI Research. BMI expects motor vehicle insurance premiums to rise by 5.2% this year, bringing the segment’s total value to a whopping $1.3 billion in 2016. Premiums should continue to rise at mid-single digit rates over the next four years, such that the segment will amount to $1.6 billion in 2020. “Motor vehicle insurance (including both compulsory and voluntary covers) is the largest domestic insurance sub-sector. It accounts for a little less than half of premiums pertaining to Singapore risks and just over 10% of total premiums written in the non-life segment. We think that it will expand more rapidly than most of the other domestic insurance sub-sectors (with the exception of health insurance),” BMI Research said. "The overall size of the motor vehicle insurance sub-sector, which accounts for somewhat less than half of the domestic insurance business in terms of business written, is constrained by the low ownership of motor vehicles. Nevertheless, the motor vehicle insurers appear to enjoy pricing power, and should continue to achieve growth in premiums as a result,” the report added. link : https://sg.finance.yahoo.com/news/chart-day-car-insurance-premiums-012500286.html 1 Link to post Share on other sites More sharing options...
Mustank Hypersonic February 10, 2016 Share February 10, 2016 Motor Insurance going to increase in 2016 ............ Yahoo : Chart of the Day: Car insurance premiums set to jump in 2016 Insurers have great pricing power. The low car ownership rate in Singapore will not deter motor vehicle insurers from hiking premiums this year, according to a report by BMI Research. BMI expects motor vehicle insurance premiums to rise by 5.2% this year, bringing the segment’s total value to a whopping $1.3 billion in 2016. Premiums should continue to rise at mid-single digit rates over the next four years, such that the segment will amount to $1.6 billion in 2020. “Motor vehicle insurance (including both compulsory and voluntary covers) is the largest domestic insurance sub-sector. It accounts for a little less than half of premiums pertaining to Singapore risks and just over 10% of total premiums written in the non-life segment. We think that it will expand more rapidly than most of the other domestic insurance sub-sectors (with the exception of health insurance),” BMI Research said. "The overall size of the motor vehicle insurance sub-sector, which accounts for somewhat less than half of the domestic insurance business in terms of business written, is constrained by the low ownership of motor vehicles. Nevertheless, the motor vehicle insurers appear to enjoy pricing power, and should continue to achieve growth in premiums as a result,” the report added. link : https://sg.finance.yahoo.com/news/chart-day-car-insurance-premiums-012500286.html coe constant, volume how to rise? Link to post Share on other sites More sharing options...
Nzy Twincharged February 10, 2016 Share February 10, 2016 Motor Insurance going to increase in 2016 ............ Yahoo : Chart of the Day: Car insurance premiums set to jump in 2016 Insurers have great pricing power. The low car ownership rate in Singapore will not deter motor vehicle insurers from hiking premiums this year, according to a report by BMI Research. BMI expects motor vehicle insurance premiums to rise by 5.2% this year, bringing the segment’s total value to a whopping $1.3 billion in 2016. Premiums should continue to rise at mid-single digit rates over the next four years, such that the segment will amount to $1.6 billion in 2020. “Motor vehicle insurance (including both compulsory and voluntary covers) is the largest domestic insurance sub-sector. It accounts for a little less than half of premiums pertaining to Singapore risks and just over 10% of total premiums written in the non-life segment. We think that it will expand more rapidly than most of the other domestic insurance sub-sectors (with the exception of health insurance),” BMI Research said. "The overall size of the motor vehicle insurance sub-sector, which accounts for somewhat less than half of the domestic insurance business in terms of business written, is constrained by the low ownership of motor vehicles. Nevertheless, the motor vehicle insurers appear to enjoy pricing power, and should continue to achieve growth in premiums as a result,” the report added. link : https://sg.finance.yahoo.com/news/chart-day-car-insurance-premiums-012500286.html Lucky I just renewed mine before CNY. 1 Link to post Share on other sites More sharing options...
Zxcvb Turbocharged February 10, 2016 Share February 10, 2016 "The overall size of the motor vehicle insurance sub-sector, which accounts for somewhat less than half of the domestic insurance business in terms of business written, is constrained by the low ownership of motor vehicles. Nevertheless, the motor vehicle insurers appear to enjoy pricing power, and should continue to achieve growth in premiums as a result,” the report added So the reason hey increase the premium is due to low number of vehicles sold in Singapore??? And so those retail or F&B businesses who have fewer customers must raise their prices too??? In the past years, they gave reasons for increasing premiums is due to insurance scams, inflated claims, etc. Now find another reason. Next time dunno what other reasons - maybe COE down so increase insurance to makeup the shortfall. Same logic as raise GST is to help the poor. 1 Link to post Share on other sites More sharing options...
Kangadrool Supersonic February 10, 2016 Share February 10, 2016 Head they win, tail we loose. 2 Link to post Share on other sites More sharing options...
inlinesix Hypersonic February 10, 2016 Share February 10, 2016 "The overall size of the motor vehicle insurance sub-sector, which accounts for somewhat less than half of the domestic insurance business in terms of business written, is constrained by the low ownership of motor vehicles. Nevertheless, the motor vehicle insurers appear to enjoy pricing power, and should continue to achieve growth in premiums as a result,” the report added So the reason hey increase the premium is due to low number of vehicles sold in Singapore??? And so those retail or F&B businesses who have fewer customers must raise their prices too??? In the past years, they gave reasons for increasing premiums is due to insurance scams, inflated claims, etc. Now find another reason. Next time dunno what other reasons - maybe COE down so increase insurance to makeup the shortfall. Same logic as raise GST is to help the poor. There are 20 GI in Singapore. For motor insurance, 50% of the market share is top 3. The remaining 50% is fight btw remaining 17 companies. If loss experience is bad, of course increase in premium. What to expect. Link to post Share on other sites More sharing options...
Sci10213 3rd Gear February 11, 2016 Share February 11, 2016 There are 20 GI in Singapore. For motor insurance, 50% of the market share is top 3. The remaining 50% is fight btw remaining 17 companies. If loss experience is bad, of course increase in premium. What to expect. Competition in motor insurance is tough ... 2 to 3 new insurers will be doing motor business in 2016... Expect these new players to price low in order to drive their sales. Link to post Share on other sites More sharing options...
thebreadface Neutral Newbie February 13, 2016 Share February 13, 2016 (edited) I had checked my premiums (Aviva & Directasia) in Jan but did not buy. I checked again in Feb, increased liao lor.. by abt $100+. My insurance is due in Mar. Upset.. Missed the promo for Directasia. Maybe I shld sign w Aviva. Now got voucher if sign 2 years.. Edited February 13, 2016 by thebreadface Link to post Share on other sites More sharing options...
Winning 1st Gear February 15, 2016 Share February 15, 2016 How insurance was being quoted? My insurance still so expensive even I ncd50% ..... Which insurance company provide cheaper rate ... Currently with AXA : insurance premium @1.6k plus plus plus Currently using comprehensive Link to post Share on other sites More sharing options...
Blackyv Turbocharged February 15, 2016 Share February 15, 2016 I had checked my premiums (Aviva & Directasia) in Jan but did not buy. I checked again in Feb, increased liao lor.. by abt $100+. My insurance is due in Mar. Upset.. Missed the promo for Directasia. Maybe I shld sign w Aviva. Now got voucher if sign 2 years.. Car insurance can sign 2 years? If got claim in 1st year, no impact on 2nd year huh?.. 1 Link to post Share on other sites More sharing options...
Fruit-tart 3rd Gear February 15, 2016 Share February 15, 2016 (edited) car insurance per year how much ahhh?? 1k ahh?? 2k?? why some bros mentioned 6k?? 6k per year insurance on car?? wahh car insurance so expensive also ahh.... ?? alamak i need to recalculate again whether i can afford a car now..hais... Edited February 15, 2016 by Fruit-tart Link to post Share on other sites More sharing options...
Vinceng Turbocharged February 15, 2016 Share February 15, 2016 How insurance was being quoted? My insurance still so expensive even I ncd50% ..... Which insurance company provide cheaper rate ... Currently with AXA : insurance premium @1.6k plus plus plus Currently using comprehensive Insurance premium $6K+? Mine is just 10% of yours. You must be driving an exotic car. Link to post Share on other sites More sharing options...
Hamburger Hypersonic February 15, 2016 Share February 15, 2016 Insurance premium $6K+? Mine is just 10% of yours. You must be driving an exotic car. or very young.... Link to post Share on other sites More sharing options...
Limwsv 5th Gear February 15, 2016 Share February 15, 2016 or very young.... Or a very bad record. Link to post Share on other sites More sharing options...
Nzy Twincharged February 15, 2016 Share February 15, 2016 or very young.... How young then can get 6k premium? When i was 22, my premium was around $800, now it is about $650. Link to post Share on other sites More sharing options...
Winning 1st Gear February 15, 2016 Share February 15, 2016 Eee where got 6k??? Think you need to go check your eyesight Liao ↡ Advertisement 1 Link to post Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In NowRelated Discussions
Related Discussions
Envy motor director Ng Yu Zhi in hot soup
Envy motor director Ng Yu Zhi in hot soup
ERP rates increase/decrease thread monitor!
ERP rates increase/decrease thread monitor!
Monkey strikes again!
Monkey strikes again!
Sg Election 2025!
Sg Election 2025!
Drink Driving Is An Act Of Irresponsibility!
Drink Driving Is An Act Of Irresponsibility!
Coolant level going down
Coolant level going down
Badawi to be sidelined soon?
Badawi to be sidelined soon?
Going to Kyushu...advice and recommend please.
Going to Kyushu...advice and recommend please.